Sun Maxilink 100 is the newest insurance with investment plan from Sun Life. It will give you an extended coverage of until age 100 compared to its predecessors which are only until age 88. A cheaper alternative to Sun Maxilink Prime but equally mightier plan.
Nowadays, you have several options when it comes to life insurance protection. Which can be a good thing because you can have something more tailored fit to your financial needs. Or a bad thing because you will be overloaded with terms, thus making you indecisive.
To help you decide here are the reasons why Sun Maxilink 100 is a suitable plan for you:
1. Higher Insurance Coverage
You will get insurance coverage of equal to 200% of your face amount from this plan. Thus, giving you more insurance coverage versus other plans with the same premium.
2. Cheapest VUL Plan
This is a regular pay VUL plan which makes it cheaper compared to a 10-pay plan. It was made possible because charges are spread throughout your lifetime.
3. Regular Pay Until 100
If paying until age 100 doesn’t bother you then you may consider this plan. Well, not really until 88, but simply put it as pay until you’re able because time will come that you can no longer work. By that time the fund will be sufficient to take care of the charges.
4. Insurance Over Investment
This is something you may consider if you’re more after the life insurance coverage than the investment. But this is a VUL plan so you will still have something you can look forward to using maybe as a retirement fund.
5. Premium Holiday Option
You can make this plan to be 10 years to pay thru premium holiday. One advantage of this over Sun Maxilink Prime is that you can see instantly see how will your investment grow through the years if you stopped paying the plan. Oh yes, you may also opt to pay it for 5 years, 6 years, 7 years, and so on.
I will be sharing a sample quotation to help you understand the benefits you can receive if you availed the plan. So here is a sample proposal for a Sun Maxilink 100:
Federico Suan, Jr. | Engineer | 25 years old | Non-smoker
Annual Premium: Php 48,000
Semi-annual: Php 24,000
Quarterly: Php 12,000
Monthly: Php 4,000
Daily: Php 133 (just the price of a fast-food meal)
Life Insurance Benefits
What’s good about this plan is the insurance coverage you can get with a lower premium. Giving you value for your money. This will give you peace of mind that your family will get a decent amount of money when you’re taken out of the picture. Which they can use to continue living the life you dreamed of giving them even when you’re gone.
Death Benefit: Php 1 Million
This is the amount of money your family will get if you die due to natural causes. You know how hard life can get for your family if the main provider of income, which is you, is gone. But by giving them this much it will lessen the financial struggles they have to face.
Accidental Death Benefit: Php 1.5 Million
If you are taken out of the picture due to an accident then your family will get Php 1.5 Million. This is an additional of 50% on top of your basic insurance coverage.
Dismemberment Benefit: Up to Php 500k
When you got into an accident and lose any part of your body then you are entitled to receive a percentage of Php 500k. So, for example, you lose one eyesight then you will get 50% or equivalent to Php 250k.
Disablement Benefit: Php 50,000/year
If you become totally and permanently disabled due to an accident then you will receive Php 50,000 per year for the next 10 years. This will give you a total benefit of Php 500k.
Hospital Income Benefit: Php 2,000/day
You will receive this if you are confined for at least 3 days if due to sickness or 1 day if it is because of an accident. This amount becomes Php 4,000 per day if the confinement is in ICU or because you are confined due to a dreaded disease.
Critical Illness Benefit: Php 1 Million
A lump sum of worth ₱2 Million is the amount you can claim when you are diagnosed or get treated for any of the 36 critical illness listed here. This rider covers most of the critical illnesses around like stroke, heart attack, brain tumor, major organ transplant, and invasive cancer.
This plan was personally designed to be paid in 10 years with all the riders attached. What’s good about this is that you can easily see how well your investment fund grows after the paying period. Something you will not get from Sun Maxilink Prime because you will still be required to pay for some riders after 10 years.
I will have to pay a total of Php 480,000 in the next 10 years with the plan. I have chosen the Index Fund for my investment because it has an average return of 10% p.a. Something I will not get if I just placed my money in a time deposit.
So why the Index Fund? I’m an aggressive investor who doesn’t mind heavy fluctuations in my investment in exchange for capital growth. I’m just on my 20’s so this fund is a good choice as I still have many years ahead of me. Don’t worry because your Financial Advisor will guide you in choosing the best fund to achieve your financial goals.
Return on Investment
This is a long term investment plan so if you will notice I just got an earning of a little over Php 7ok after 10 years. But still, it is something I will not get if just put it in a bank. At the age of 65 or after 40 years my fund would have grown to Php6.7 Million which gave me more than Php 6 Million in earnings.
10 years: Php 558,685
20 years: Php 1,235,421
30 years: Php 2,841,814
40 years: Php 6,748,640
Why Choose Federico Suan, Jr. to be Your Financial Advisor?
- Young professional. Picking a young Financial Advisor means he can grow old with you. It is a lifelong commitment and I am ready to serve.
- Friendly with the utmost professionalism. I won’t give you that ultra-silent awkward moment when meeting up. No dull moments. I ensure a fun and very factual meeting.
- Attended various training and seminar. I believe in quality service. And one way to provide it is to constantly improve every single day.
- Available for meetings even on weekends.
- My mission to help you secure the future of your family. I secured mine. Hopefully, yours is next.
For all Financial Advisors like us, we treat life insurance as LOVE insurance. Because when you love someone, i.e. your family, you don’t leave them without anything. You want every protection you can get to ensure their safety and well-being, right?
I hope you enjoyed my blog!
You can also protect your family’s future by getting a VUL policy. Some terms are very technical that you may need a personal discussion about it. Financial Planning is also FREE and if you don’t like you are not required to get it.
Federico is an electronics engineer, financial blogger, insurance agent, and a certified investment solicitor. A multi-awarded Sun Life financial advisor with clients ranging from lawyers, doctors, engineers, accountants, business owners, company directors, and OFWs to minimum wage earners had sought advice from him in achieving lifetime financial freedom.